Home retail improvement products and services in the future will gain efficiencies from procurement, distribution, outsource and reduce transportation cost and take on competitive pressures through development of more new products demanding customizations from business partners. References The Home Depot U.S.A., Inc. (2003-2006) The Home Depot Retrieved from online web address:
They would do this through marketing research. This paper will show why marketing research is so important to the development of Kudler Fine Foods, where the company could better themselves by doing additional research and by using competitive intelligence. Importance of Research
Benchmarking is “discovering how others do something better than your own firm so that you can leapfrog the competition” (Kerin, Hartley, Berkowitz, Rudelius, 2006). Using the frequent purchase program, Kudler can collect new data from its customers. Through the use of market surveys, similar to the 2006/2007 market survey, Kudler will be able to determine what its customer catering needs are, if there is a demand for it, the types of pricing the customer would find acceptable and ways in which to promote it, in addition to adding to its marketing mix (also known as market orientation). As with market surveys, Kudler can conduct research on the types of food available on the market and determine what new products are popular with consumers through its food marketing trends studies. Pricing Kudler wishes to offer competitive pricing relative to other caterers.
In order to do this the marketing department is proposing several events to lure more consumer/store interaction. It is hoped that the consumer will make the events part of the social networking and a source of referrals. The system for developing this strategy is still in development and further research is necessary. As research is ongoing, the competition will also be assessed. A competitive marketing intelligence analysis is necessary because much can be learned from the competition’s successes and failures.
The school tokens are a good sales promotion because to get this sales promotion you have to buy products from the store to a certain price. This will not just be benefitting Tesco it will be benefitting the school, which you are giving the token, too whether that’s new computers, new sports equipment. These are two good ways to be able to offer customer the best value for money and another marketing objective in working directly with suppliers to make long-term business relationships based on strict quality and price
Strategy Assignment Kudler Fine Foods has been through major changes, in which the changes have created advantages for the organization. Companies use information technologies and develop strategies and tactics to help them grow, lower cost, maintain a strategic and competitive advantage. Kudler Fine Foods have properly used the technology available to the company so that it will be beneficial to their growth and overall success. This paper will identify how technology has created business opportunities for Kudler Fine Foods. In addition, this paper will identify the generic strategy Kudler Fine Foods is pursuing, and based upon the generic strategy, this paper will identify some tactics the company should implement to realize the generic
Determine how best to use your company's strengths to overcome the strengths and overall performance of the competition you've found. How can you do even better? Possibly you'll have an offsetting strength that offers even more to customers. Start working on plans to develop your business into the dynamo you planned for it to become invest the time to double check your competitors for changes they've made. Examine the marketplace to make sure new competitors haven't found a way in without you knowing it.
In order for small businesses to really gain an edge they have to diversify their products and exploit local suppliers, cash in on the advantage of a better enhanced customer experience, and with interaction within the nearby communities. Works Cited 1.Flandez, Raymund. "What You Can Do to Fight Wal-Mart." The Wall Street Journal (2009): N. pag. Web.
Therefore, the organization will have to appeal to other companies by offering lower prices, higher quality product, better transportation cost, and a design to appeal to its consumers. The functional strategy the company will use allows the organization to take advantage of and maximize the use of various resources. Many companies are looking toward cheaper labor, Riordan has set its focus on acquiring a workforce with exceptional skill and a high quality work ethic. The company realizes it is more cost-effective and more efficient to hire knowledgeable employees with the drive to perform jobs at the highest level possible (Gallos, 2003). Riordan will pay higher salaries to employees with high-level skillset to attract and maintain employees with these skills.